Quaise
Quaise Energy, Inc. is an American energy technology company founded in 2018 and headquartered in Cambridge, Massachusetts, specializing in millimeter-wave drilling systems to access superhot geothermal resources at depths beyond 10 kilometers.[1][2] The company's core innovation involves gyrotron-generated electromagnetic waves that vaporize rock into plasma, enabling rapid penetration of hard formations like granite without mechanical bits, thus overcoming limitations of conventional rotary drilling for high-temperature environments exceeding 300°C.[3][4] This approach draws from over a decade of research at MIT's Plasma Science and Fusion Center, aiming to unlock terawatt-scale baseload renewable energy nearly anywhere on Earth by converting existing thermal power infrastructure to geothermal use.[5][6] Quaise's technology addresses key barriers in geothermal development, such as slow drilling rates and bit wear in deep, hot rock, by leveraging high-frequency millimeter waves (around 245 GHz) that propagate efficiently through waveguides and focus energy to ablate material at rates potentially 10-20 times faster than traditional methods in crystalline rock.[7][8] The system supports modular deployment, with initial prototypes demonstrating clean borehole creation—verified via downhole cameras—free of debris that clogs conventional drills.[9][10] Backed by investors including The Engine (MIT's venture fund), Khosla Ventures, and partners like Oak Ridge National Laboratory and ARPA-E, Quaise has raised significant seed funding to scale from lab tests to field operations.[5] Notable milestones include achieving a 100-meter borehole in July 2025 using a transportable gyrotron system, followed by public demonstrations in September 2025 showcasing progressive depth increases and live video feeds of vaporized rock holes, and a record 387-foot (118-meter) field test in October 2025 that validated the technology's ability to drill hard rock without bits.[9][10][11] These advances position Quaise to potentially deliver dispatchable, zero-emission power at costs competitive with fossil fuels, with projections for commercial wells by the early 2030s if scaling challenges like gyrotron power efficiency and borehole casing are resolved through ongoing R&D.[12][13] Co-founded by CEO Carlos Araque, whose background spans oil and gas drilling, the firm emphasizes empirical validation over hype, collaborating with academic and national labs to refine a method rooted in fusion plasma physics rather than unproven alternatives.[5][6]Company Background
Founding and Research Origins
Quaise Energy's core technology traces its origins to research conducted at the Massachusetts Institute of Technology's (MIT) Plasma Science and Fusion Center, where senior research scientist Paul Woskov investigated the use of high-power millimeter waves for rock penetration. Woskov, leveraging gyrotrons initially developed for nuclear fusion experiments, demonstrated in laboratory tests during the early 2000s that these waves—operating at frequencies around 100-300 GHz—could vaporize granite by heating it to plasma states, achieving drilling rates far exceeding mechanical methods without bit wear.[14][3] By 2008, Woskov explicitly proposed applying this millimeter-wave drilling to access deep geothermal resources, addressing limitations in conventional rotary drilling for superhot rock formations beyond 10 kilometers depth.[3] A 2012 publication detailed early prototypes, including a system that drilled 15 centimeters into granite in seconds using 100 kilowatts of power.[15] The transition from academic research to commercialization began when Carlos Araque, a geothermal industry veteran who had worked at AltaRock Energy on enhanced geothermal systems, encountered Woskov's work in 2017. Araque, recognizing its potential to enable baseload renewable energy from ubiquitous superhot rock, co-founded Quaise Energy in 2018 alongside Matt Houde, a geological engineer with AltaRock experience, and Aaron Mandell, with Woskov serving as a scientific co-founder.[16][14] Headquartered initially in Cambridge, Massachusetts, the company positioned itself as an MIT spinout to scale the technology for drilling wells up to 20 kilometers deep, targeting steam temperatures exceeding 500°C for efficient power generation.[15] Early efforts secured an ARPA-E grant from the U.S. Department of Energy, funding initial prototypes to validate the approach beyond lab constraints.[14]Leadership and Funding
Quaise Energy was co-founded in 2018 by Carlos Araque and Matt Houde, building on millimeter-wave drilling research initiated by Paul Woskov at MIT's Plasma Science and Fusion Center.[14] [1] Araque, who previously worked in oil and gas drilling and served as technical director at The Engine (an MIT-affiliated venture fund), has led the company as CEO since inception, overseeing fundraising exceeding $100 million and team expansion to over 50 employees.[5] [17] Houde, with prior experience at geothermal firm AltaRock Energy, serves as co-founder and chief of staff.[14] [18] Woskov, the MIT research engineer who developed the core gyrotron-based drilling concept in response to a 2008 MIT Energy Initiative solicitation, acts as a key advisor.[14] The executive team includes Franck Monmont as VP of Research, Henry Phan as VP of Engineering, Dr. Geoffrey Garrison as VP of Operations, and Dr. Trenton Cladouhos as VP of Geothermal Resource Development.[19] [20] Early backing came from Vinod Khosla as the first investor, with seed funding led by The Engine.[5] Quaise has secured over $100 million in total funding, including grants and equity rounds, to advance prototyping and field testing.[2] An initial $5 million grant from the U.S. Department of Energy's ARPA-E program supported scaling of gyrotron experiments.[21] This was followed by $18 million in seed equity.[22]| Date | Round | Amount | Lead Investors | Notes |
|---|---|---|---|---|
| Pre-2022 | Seed + Grant | $23M | The Engine (seed lead); ARPA-E ($5M grant) | Initial development funding.[22] [5] |
| February 8, 2022 | Series A | $40M | Safar Partners | Brought total to $63M; investors included Prelude Ventures, The Engine.[22] |
| June 8, 2022 | Series A Extension | $12M | TechEnergy Ventures | Expanded Series A to $52M; total funding $75M.[23] |
| March 12, 2024 | Series A1 | $21M | Prelude Ventures, Safar Partners | New investors included Mitsubishi Corporation, Standard Investments; total exceeded $95M.[24] [25] |